Latest Gold forecast
Latest gold forecast is similar to yesterday, We are trading in same range since Monday, Just updated new high of 1303$. We expected this high as we mentioned in our yesterday’s gold predictions. Its just testing new highs and lows everyday. Lets check that table once again.
01st June: Low 1288.30$, High 1300.50$
04th June: Low 1290$, High 1298.05$
05th June: Low 1291.50$, High 1300.80$
06th June: Low 1293.80$, High 1302$.
07th June: Low 1294.80$, High 1303$.
If you see we are consistently making lows which are higher than previous day. We are making highs which are higher than previous day. In our previous gold predictions we discussed how we are positive in gold price. Yesterday’s gold price forecast was clear if market sustain above 1302$ then we see more power. Unfortunately gold could not sustain on higher levels as dollar index marched above 93 on higher equity markets.
DJIA index gained once again higher as it tested above 25200, Dow Jones support and resistance levels are following, keep them close while trading .
Dow Jones chart has a good support at 24980 and resistance at 25360. Either side breakout will decide the fate of further upside in DJIA index.
DJIA index is major driver behind dollar index strength which eaten all gold gains yesterday. Market would be highly influenced by dollar and DJIA index. Keep an eye on latest price of both while trading.
Latest gold price forecast is all about testing new highs and not going below 1294$. A good support on gold technical chart stands at 1293.50$ that is 06th June’s low. It would be a crucial level and it will determine if market would go further down or not. If this level is safe than we are on course to test new highs. If market break this support and trade below. Then expect 1287$- 1281$ in price.
A good resistance on chart stands at 1302$, If traders break and sustain above this then expect good strength in price upto 1309$- 1318$ today.
Latest gold forecast conclusion: Gold trend is positive as suggested in our last gold prediction. But stay cautious as its Friday and next week we have G7 meeting outcome and next week President Trump meeting North Korean leader Kim Jong un.
Silver forecast
Silver price tested 16.92$ and our subscribers enjoyed it. We gave a buy signal at 16.70$ for target of 16.92$. It kissed our target and rolled back. A good resistance now stands at yesterday’s high. If traders break and sustain above 16.92$. Then expect good strength in silver price upto 17.12$- 17.36$.
A good support on silver chart stands at 16.50$, If traders break and sustain below this. Then expect mild pressure in silver prices upto 16.30$ today.
Silver market forecast conclusion: Market is in bulls hands, stay in long side. Buy in dips is good strategy but do not over trade as we have major event of G7 meetings outcome. We might get overview how Canada and Mexico gonna deal with Trump’s tariff.
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